The president hasn’t named a successor to Jerome H. Powell, but his insistence on someone who will lower interest rates has already raised doubts about their credibility.

Trump demands that the Fed reduce rates by at least 3 points to save the US $360 billion a point. The Polymarket bets 95% that the Fed will ignore Trump’s demands this month. Trump considers naming a shadow chair until the current chair, Jerome Powell, leaves office next year.

Some investors have staked out positions in futures markets that will profit if interest rates drop immediately after Jerome Powell’s term as chair ends